World: Malting barley prices continue to climb higher

Global malting barley prices continue to climb higher as crop forecasts are reduced and the availability of malting barley is diminished. However, the prices are now growing at a slower pace, RMI Analytics reported this week.

Canada continues to lead the increase in prices, but other regions are moving up as well.

In addition, malting premiums over feed barley have widened as the market attempts to retain as much quality barley in the malting pool as possible.

Australia remains the most competitive malting barley origin globally and as a result is receiving additional interest from non-traditional destinations. With some trade confirmed and more discussions taking place, the nation will be a key source for any incremental malting barley demand, especially with another sizable crop coming in 2021, the analysts said.

Until the final Canada crop result is known, the global market is expected to remain well supported.